GoKawiilMarvell stock drops 8% despite raising fiscal 2028 revenue forecast to $18 billion
Marvell Technology's shares slid 8% in premarket trading even after the chipmaker beat second-quarter revenue expectations, posting $2.7 billion, up 37% year-over-year and $39 million above its own guidance. The company raised its fiscal 2028 revenue outlook to roughly $18 billion, about 50% growth, from a prior estimate of $16.5 billion, but offered scant detail on how it plans to get there.